Securities firms feel heat

Article Abstract:

Tension looms over the Japanese securities industry, as more and more companies have been compelled to file bankruptcy cases as a result of stiff competition and financial crisis in Asia. Sanyo Securities Co, in particular, recently sought the court's financial assistance after the company failed to generate enough profits to support its business. The trend has also introduced major changes in the credit sector, forcing companies to be more selective in choosing their clients. Analysts believe that securities companies may resort to massive industry consolidation should the trend prevail.

Business Credit Institutions, All Other Nondepository Credit Intermediation, Security and Commodity Services, Securities Services, Evaluation, Commercial finance companies, Securities

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Investor-protection fund roils foreigners

Article Abstract:

A number of foreign securities companies are questioning the credibility of the planned Investor Protection Fund of the Japanese government. The fund is one of several programs the government intends to create to solve the current financial crisis. The Investor Protection Fund aims to protect depositors, policy holders and investors against losses. The foreign securities companies claim that their opinions regarding the issue have not been consulted by the government. Moreover, the fund does not furnish substantial monitoring of how debts are to be paid or revealed to the public.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Investor Protection & Disclosure, Economic aspects, Disclosure (Securities law), Investor relations, Foreign securities

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Merrill tests market's door

Article Abstract:

Merrill Lynch & Co disclosed plans to enter the retail-brokerage market in Japan. The decision reflects the most aspiring test yet of individual Japanese investors' newly discovered acceptance of foreign banks. The company announced it will seize control of roughly 30 branches throughout Japan once run by Yamaichi Securities Co, which collapsed in Novermber 1997. Merrill will also employ roughly one-third of fYamaichi's 6,000 former workers.

Planning, Investment companies, MER, Merrill Lynch & Company Inc.

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